Run-off insurance cover
Comprehensive run-off insurance cover – for your ongoing peace of mind and protection
When you are planning to retire or take a break from medical practice, you have two main options for professional indemnity insurance. This page helps you work out which applies to you.
Understanding your options
The Australian Government's Run-off Cover Scheme (ROCS) provides run-off insurance cover to practitioners who have left private practice and meet specific eligibility requirements. It also covers the estates of deceased practitioners. Under ROCS, the government guarantees to pay the cost of any valid medical indemnity claims made against you.
When you become eligible for ROCS, your most recent medical indemnity insurer automatically issues you a ROCS policy. The government then reimburses the insurer for any valid claims paid under that policy.
If you are not yet eligible for ROCS but want to stop practising or take an extended break, you can apply for run-off cover under the Avant Practitioner Indemnity Insurance Policy.
Government run-off cover or Avant run-off cover – which applies to you?
When am I eligible for ROCS?
You are eligible for ROCS if you:
- have permanently retired from private medical practice
- have ceased practising due to permanent disability
- are deceased (your estate is eligible)
- have left Australia after working under an eligible temporary visa
- are on maternity leave.
For more information, see the Run-off Cover Scheme FAQs or contact us on 1800 128 268.
What if I’m not eligible for ROCS?
You can purchase Avant run-off cover if you are a practitioner who has previously held medical indemnity insurance with Avant (or with United Medical Protection or MDAV), and you have:
- ceased private practice – for example, taken an extended career break; or
- cancelled your indemnity policy for another reason.
Contact us on 1800 128 268 to learn more.
Taking maternity leave
Taking time away to start or grow your family is an exciting step. Before you leave practice, it is worth checking that your run-off cover is in place. This protects you from any claims that may arise from care you provided before your break, even if those claims are notified later. You may be eligible for the government's ROCS scheme. Find out more here.
Please note: your run-off policy covers healthcare you provided during your run-off period only, as shown on your policy schedule. This applies to all features listed below:
We cover you if you are sued by a patient or another person because of the healthcare you provided. This includes legal fees to defend you and, if ordered, the other side's legal costs.
Cover is up to $20 million.
We defend you before Ahpra, the Medical Board and the Coroner when your practice is being examined. We also support you through investigations by your state's health complaints entity and the criminal courts.
Cover is up to $2 million.
We assist you with Medicare and private health fund audits and investigations.
Cover is up to $2 million.
We cover your legal fees and other expenses for coronial inquiries or inquests, Royal Commissions, Commissions of Inquiry, or other government commissions – where you are required to attend in your capacity as a healthcare professional.
Cover is up to $2m.
We cover you up to $2 million if you need to challenge a subpoena to produce medical records, where there are reasonable grounds to do so.
^Cover is subject to the full terms, conditions and exclusions of the policy. Communicable disease cover and away from work costs are not available under your run-off policy.
Important documents
The LIST places a curated list of insurers at your fingertips making finding the right life insurance policy easy for doctors. Compare, select and apply.
The Doctor’s Health Fund is the only health fund created for doctors, their families, and the medical community.
*The Retirement Reward Plan reflects the current policy of the Board for determining which members of Avant are eligible to participate in the Retirement Reward Plan and any Retirement Reward Dividends declared by Avant. The Retirement Reward Plan is entirely at the discretion of the Board and no member will be eligible to receive a Retirement Reward Dividend until such time as the Board declares a dividend in favour of that member. The Retirement Reward Plan is subject to change, suspension or termination by the Board at any time.
#The information provided in this material is general advice only and has been prepared without taking into account your objectives, financial situation and needs. You should consider these, having regard to the appropriateness of this advice as well as the Product Disclosure Statement and Target Market Determination before making a decision to acquire a financial product. You should also read our Financial Services Guide for detail about who we are, how we are remunerated and how our Doctors Life Insurance Selection Tool (LIST) works. For further important information please see Avant - Life insurance for doctors . The LIST is provided by Avant Life Insurance. “Avant Life Insurance" is a registered business name of Doctors Financial Services Pty Ltd ABN 56 610 510 328 AFS Licence Number 487758 (DFS).
